Intech Investment Management LLC Purchases New Shares in Fluor Co. (NYSE:FLR)

Intech Investment Management LLC acquired a new position in Fluor Co. (NYSE:FLR) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 23,799 shares of the construction company’s stock, valued at approximately $1,036,000.

Other large investors have also recently made changes to their positions in the company. Coldstream Capital Management Inc. purchased a new position in Fluor in the fourth quarter worth about $212,000. Corient Private Wealth LLC increased its position in shares of Fluor by 5.7% during the 4th quarter. Corient Private Wealth LLC now owns 18,511 shares of the construction company’s stock valued at $725,000 after purchasing an additional 992 shares during the last quarter. US Bancorp DE raised its holdings in Fluor by 20.7% during the 4th quarter. US Bancorp DE now owns 19,068 shares of the construction company’s stock valued at $747,000 after buying an additional 3,267 shares during the period. Advisory Services Network LLC bought a new stake in Fluor in the fourth quarter worth $183,000. Finally, Nomura Asset Management Co. Ltd. boosted its stake in Fluor by 19.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 5,046 shares of the construction company’s stock worth $198,000 after buying an additional 818 shares during the period. 88.07% of the stock is currently owned by institutional investors.

Insider Transactions at Fluor

In related news, CAO John C. Regan sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total value of $628,030.00. Following the completion of the transaction, the chief accounting officer now owns 55,965 shares of the company’s stock, valued at $2,703,669.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Joseph L. Brennan sold 15,335 shares of Fluor stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $47.57, for a total value of $729,485.95. Following the transaction, the chief financial officer now owns 57,834 shares of the company’s stock, valued at approximately $2,751,163.38. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO John C. Regan sold 13,000 shares of the stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $48.31, for a total transaction of $628,030.00. Following the sale, the chief accounting officer now directly owns 55,965 shares of the company’s stock, valued at approximately $2,703,669.15. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,630 shares of company stock valued at $1,371,528. Company insiders own 1.70% of the company’s stock.

Fluor Trading Down 0.8 %

FLR opened at $46.30 on Wednesday. Fluor Co. has a 52 week low of $32.31 and a 52 week high of $51.64. The company has a market capitalization of $7.93 billion, a P/E ratio of 26.92, a PEG ratio of 1.91 and a beta of 1.91. The stock’s fifty day moving average is $47.58 and its two-hundred day moving average is $43.88. The company has a quick ratio of 1.77, a current ratio of 1.77 and a debt-to-equity ratio of 0.51.

Fluor (NYSE:FLR) last released its quarterly earnings data on Friday, August 2nd. The construction company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.17. Fluor had a return on equity of 25.02% and a net margin of 2.62%. The firm had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.34 billion. During the same period in the previous year, the company posted $0.76 earnings per share. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. Analysts forecast that Fluor Co. will post 2.9 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. DA Davidson raised their target price on shares of Fluor from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Monday, August 5th. Truist Financial raised their price objective on shares of Fluor from $54.00 to $61.00 and gave the stock a “buy” rating in a research note on Monday, August 5th. Robert W. Baird upped their target price on Fluor from $46.00 to $54.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Barclays raised their price target on Fluor from $39.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 18th. Finally, KeyCorp raised Fluor from a “sector weight” rating to an “overweight” rating and set a $57.00 price objective on the stock in a research report on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Fluor currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.00.

Fluor Profile

Fluor Corporation provides engineering, procurement, and construction (EPC); fabrication and modularization; operation and maintenance; asset integrity; and project management services worldwide. The company operates through Energy Solutions, Urban Solutions, Mission Solutions, and Other segments. The Energy Solutions segment provides solutions to the energy transition markets, including asset decarbonization, carbon capture, renewable fuels, waste-to-energy, green chemicals, hydrogen, nuclear power, and other low-carbon energy sources.